China's commercial crude oil stocks down 1.4%

BEIJING - China's commercial crude oil inventory declined 1.4 percent month-on-month at the end of February due to lower imports and output.

Net imports of crude oil dropped 5.4 percent in February, reducing stocks, and the amount of oil refined also declined.

Despite a sharp rise in exports, diesel reserves rose significantly as a result of weak demand after the Spring Festival holiday.

Gasoline stocks also rose slightly due to flat demand.